As per Rangarajan Committee Report
     Financial  Inclusion  is  the  process  of  ensuring 
     access  to  appropriate  financial  products  and 
     services needed by vulnerable groups such as 
     weaker  sections  and  low  income  groups,  at  an 
     affordable  cost,  in  a  fair  and  transparent 
     manner by mainstream institutional players.
                                                           2
       Important Milestones on Road to Financial 
                    Inclusion in India
    1904         Setting up of Rural Cooperatives
    1969         Nationalization of 14 major Commercial Banks
    1975         Setting up of Regional Rural Banks
    1990s        Self Help Group
    2005         RBI advised banks to open no frill accounts
    2006         RBI allowed BC/BF to act as agents of banks
    Sept. 2010   RBI allowed for - profit companies (excluding NBFC) to 
                 act as Business Correspondent
    2011         National Payment Corporation of India (NPCI) launched 
                 Interbank Mobile Payment System (IMPS)
                                                        3
           OUR BELIEF
  Banking  to  the  unbanked  is  a 
  profitable business
           MISSION 
              
     “Banking for the Unbanked”
      
           VISION
      
   “ To be a leading Global Bank with 
   PAN India  footprints and become a 
  household brand in the Indo-Gangetic 
    plains, providing entire range of 
  financial products and services under 4
           one roof ”
     Financial Inclusion Models Adopted by the 
       Bank                        Brick & Mortar Model 
                                         -   Opening  PNB  MITRA-No  frill 
                                             accounts  (Zero  balance  accounts) 
                                             with relaxed KYC norms
                                         -   Launched  PNB  Mitra  ATM  card; 
                                             withdrawal  limit : upto Rs. 5,000 
                                    ICT (Information & Communication 
                                             per day.
                                        Technology) 
                                    Model
                                          – Base Branch acts as a focal point 
                                             for Business Correspondents (BCs)
                                          – BCs           are        engaged             by        the 
                                             Bank/technology providers
                                          – BC  Agents    (BCAs)  contact  the 
                                             customers for enrollment and issue 
                                             biometric smart cards. 
                                          –                                                              5
                                             BCAs use  laptops and POS in Off 
                                             Line mode.
                                          – Relaxed KYC norms 
   
     Project FI through RRBs
    • Following  Srinivasan  Committee  recommendation,  to 
      leverage technology for business and inclusive growth, 
      the  project  CBS@RRB  implemented in  all  the  6  RRBs 
      sponsored by PNB in April,2010.
    • Six RRBs sponsored by PNB:
      -  Haryana Gramin Bank ,Rajasthan Gramin Bank, Punjab Gramin Bank
      -  Himachal Gramin Bank, Sarva UP Gramin Bank, Madhya Bihar Gramin 
         Bank.
        No. of Service Outlets                        1488
        Avg. no. of Txn. In Lacs  (Post CBS) per      3.07 
        day
    •   Customer Base  (In Lacs)                      87.94
      Project adjudged as the best IT implementation for year 
      2010 by PC QUEST Magazine.
    • Project was awarded SKOTCH AWARD for the year 2010.
                                                                         6